Banque Saudi Fransi announced earnings results for the year ended December 31, 2016. For the year, the company achieved net profit of SRA 3,510 million compared to SRA 4,036 million for 2015 representing a decrease of 13%. Net profit has reached SRA 374 million against SRA 950 million for the same period of the previous year. This decrease is due to a oneoff credit event which has been fully provisioned at the end of 2016.